15/12/2023 – 21:28
The Minister of Finance, Fernando Haddad, made a point of reinforcing this Friday, the 15th, that the standard rate of Value Added Tax (VAT) that the tax reform will implement will be lower than that existing today. He reaffirmed that it will be around 27.5%.
“The new rate will be lower than today's and I think no one should have any doubts about that,” said the minister. “We will evaluate the impact, but it should be around 27.5%. The more efficiency and transparency and the less litigation and evasion, all of this will contribute to the standard rate being increasingly adequate,” he stated.
Haddad made the statement during a press conference he held earlier in the evening to talk about the vote on tax reform and which he classified as a victory given that the issue has been debated for 40 years and has never been approved.
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